© Dukascopy Bank SA
"Expectations are that the RBA is going to cut rates again. The prices report tomorrow could reinforce expectations of a rate cut, and that should weigh on the Aussie."
-Gain Capital Group (based on Bloomberg)
Pair's Outlook
Pair tried to step up at the beginning of the week, but did not manage to advance far above 1.03 and currently is trading at 1.0265. For the moment it is stuck between 20 bar and 200 bar SMA, but bearish momentum is likely to depress pair to 1.02.
Traders' Sentiment
After starting the week in favor for the bears, market sentiment switched sides and currently 53% of all, position on the pair are long. However, 51% share of pending sell orders suggest it is early to make conclusions.
© Dukascopy Bank SA